Oligarchs and the super-rich wishing to come to Britain are to face new curbs as the government suspends “gold-plated” investor visas from midnight. The move is part of a crackdown on organised crime and money laundering.
The “Tier-1” investor visas give people who are willing to bring millions of pounds to Britain a fast track to settlement in the country.
Investments of £2 million, £5 million or £10 million can be made in gilts, or government bonds, or in British businesses, in return for permission to apply for permanent residence in five, three or two years respectively. Applicants can then apply for British citizenship, which some believe is the ultimate goal for wealthy overseas migrants.
Critics of the route say that it can be exploited